This is a sad news for all bitcoins users who live in India and I’m surprised by their decision to ban bitcoins, cause many of my Indian friends told me they would regulate it and not ban it. After reading those links I feel the Indian government has completely failed to understand what bitcoins is, and their reasons for banning it are invalid and should be challenged. They should look towards Japan model of regulating bitcoins, as that would create a new income source for the Indian government.